A new partnership between philanthropy-focused fintech Charityvest and faith-based wealth firm OneAscent will allow the latter’s financial advisors and their clients to access a new charitable giving solution.
Through its collaboration with OneAscent, Charityvest is debuting OneGive, a bespoke donor-advised fund and philanthropy program that underscores both firms' dedication to promoting strategic giving among investors.
OneAscent is a “family of Kingdom-minded companies” – which includes OneAscent Financial Services, OneAscent Investment Solutions, OneAscent Capital, OneAscent Wealth Management and OneAscent Family Offices – that deliver values-based financial services and faith-driven strategies to advisors and investors.
The partnership between OneAscent and Charityvest aims to simplify charitable giving for clients by providing them with access to a OneGive DAF managed by their advisor. This access includes a selection of giving opportunities, advice from charitable advisory experts, and on-demand educational content, all facilitated through a user-friendly, tech-driven platform.
“Our DAF offering through Charityvest reflects our commitment to enriching clients’ lives with innovative solutions and amplifying charitable impact through strategic giving," Harry Pearson, CEO of OneAscent, said in a statement.
The charitable giving space has seen a notable increase in activity of late, with Schwab Charitable recently reporting an 8% increase in giving on its platform during its fiscal year 2023 as donor contributions exceeded the previous year’s total by $350 million.
Charityvest’s newly forged partnership also marks the public debut of Charityvest for Advisors, a platform allowing wealth advisors to offer a comprehensive charitable giving program to clients.
The Charityvest for Advisors platform can also unearth opportunities for clients to engage in collaborative philanthropy, such as family giving funds or expert-curated cause funds, and provide access to Charityvest’s network of advisors with expertise in philanthropy, complex gifts, and charitable planning.
"In a world where advisors are looking for more ways to add value, Charityvest's vision is to empower every wealth management firm to launch their own ‘giving practice’ for their clients,” Stephen Kump, co-founder and CEO of Charityvest, said in the statement.
“Giving should become a standard offering, and OneAscent is taking a market leadership role and setting that standard,” Kump said.
"Shares of alternative assets managers have lagged this year as investors grow wary of private-credit exposure."
The fintech platform is touting a new AI-free Planning Observations feature, which draws on IRS tax records to uncover opportunities for advisors.
The Omaha, Nebraska-based RIA's latest acquisition expands its Rocky Mountain footprint after two prior Colorado deals last year.
Operational drag between an advisor signing and accounts going live is emerging as a competitive liability for wealth management firms.
Bain says companies face a "winner's paradox" as AI transformation collides with complex integrations.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
